During 1970-1997, the U.S. federal government was:

A. in deficit every year.

B. balanced every year.

C. in surplus every year.

D. in deficit most of those years.

• During 1970-1997, the U.S. federal government was A. in deficit every year.

Indeed, since 1970 the US Federal Budget was in surplus only for four years (1998-2001). All the other years, the Federal Budget was in deficit. During the period 1970-1997, the deficit averaged around 3% of GDP per year.